The move aims to strengthen counter-cyclical adjustments to better support the real economy
monetary policy
inflation
US Fed holds rates steady, sees just one cut in 2024 amid unchanged economic outlook
Under the current projections, absent a surprise in upcoming inflation or jobs data, analysts expect the cuts would likely not begin until December
European Central Bank
ECB cuts interest rates by 25 bps, first major central bank to lower rates since 2019
Lower rates can mean lower mortgage costs and credit card charges for consumers
inflation
India’s central bank keeps interest rate unchanged at 6.5%
The Monetary Policy Committee of RBI, in a majority decision, opted for status quo interest rates, citing continued risks on the inflation front
inflation
Sri Lanka’s central bank slashes interest rates by 0.5% in bid to spur post-crisis growth
The Central Bank of Sri Lanka reduced the Standing Deposit Facility Rate to 8.50% and the Standing Lending Facility Rate to 9.50%
CBUAE
UAE central bank maintains base rate at 5.40%
It has decided to maintain the interest rate applicable to borrowing short-term liquidity from the central bank at 50 basis points above the Base Rate for all standing credit facilities
China
China’s central bank leaves key policy rate unchanged
The move is seen as in line the authorities continued efforts to prioritise currency stability amid uncertainty over the timing of expected Federal Reserve interest rate cuts
inflation
US Fed chair Powell says ‘not far’ from cutting interest rates as inflation continues to decline
Powell’s remarks led to a slight decline in yields on 2-year Treasury notes and increased expectations of a rate cut in June
Central Bank of Egypt
Egyptian central bank makes a surprise 2% hike in interest rates
Some analysts believe the rate hike move may indicate that a currency devaluation is on the way
Central Bank of the UAE
UAE Central Bank holds interest rate at 5.40%
The UAE central bank’s decision comes in response to the US Federal Reserve’s recent announcement to keep interest rates steady
European Central Bank
European Central Bank keeps interest rates unchanged
The bank, however, gave no hint that policymakers are even contemplating a start to easing of rates
inflation
US Federal Reserve holds restrictive stance on interest rates, hints at future cuts
The meeting indicated increased optimism about the path of inflation, noting “clear progress”
inflation
US Fed holds interest rates steady; promises series of cuts in 2024
Fed policymakers projected on Wednesday that they will lower borrowing costs to 4.6 percent by the end of 2024
Central Bank of the UAE
Dubai real estate: Is it better to fix a mortgage now or next year? Experts weigh in
Homebuyers are advised to carefully evaluate their financial plans and consider the stability offered by fixed-rate mortgages, experts said
economic crisis
Egypt’s economy freefalls as experts look to lessons from Lebanon’s crisis
Egypt’s economic crisis deepens as reform delays pile on fiscal and debt pressures
Bank of England
Bank of England keeps interest rates unchanged for first time since December 2021
It was the first time since December 2021 that the BoE did not increase borrowing costs
CBUAE
US Fed keeps interest rates steady at 5.25-5.5%; UAE central bank follows suit
The Central Bank of the UAE has announced maintaining the Base Rate applicable to the Overnight Deposit Facility (ODF) without change at 5.40 percent